F&B Market Research can be a complex and intricate process, especially for the uninitiated. Questions such as ‘what data to look for?’ and ‘how do I make the most of collected data?’ are common. It’s important to understand the different types of data available to best map out your research strategy and to ensure that the right decisions are made. From menu data to restaurant technology coverage, understanding the data sources and insights available is key of a successful research strategy.
To help demystify the data, Brizo offers a powerful suite of tools to design and deliver highly targeted research and prospecting of the foodservice market. Our data allows for highly targeted research and prospecting of the foodservice market with unique data fields specific to the food service industry.
In this article, we’ll answer some of the most commonly asked questions to help evaluate F&B Market Research and ensure that the most informed decisions are made.
What is F and B Market Research?
F&B Market Research, or Food and Beverage Market Research, is the process of collecting, analyzing, and interpreting data related to the foodservice industry. Market research in this industry typically focuses on understanding consumer preferences, behaviors, and opinions to prioritize product and service development and marketing decisions. F&B Market Research may also include key industry insights such as menu trends, restaurant tech, and sales prospecting, and is an important practice for companies to stay competitive.
What Are the Benefits of F and B Market Research?
F&B Market Research is essential for foodservice companies and organizations to identify opportunities, stay competitive, and improve products or services. With F&B Market Research, companies can:
1. Identify customer needs and wants
2. Improve products or services
3. Identify sales opportunities
4. Generate targeted marketing campaigns
5. Analyze competitor strategies
6. Track trends in the foodservice industry
How Can I Make the Most of My F and B Market Research Data?
Collecting and analyzing data is one thing, but actually harnessing the insights acquired is another. To best maximize data gathered from F&B Market Research, businesses should examine factors such as geographical location, preference analysis (trends, likes, dislikes of customers), identify target market and segments within the market, and oversee competitor offerings should be closely monitored. Implementing the insights in real-time enables a data-driven approach to decision-making.
What Types of F and B Market Research Are Available?
At Brizo, we offer a range of services to give companies insights into the foodservice industry. Insights include in-depth menu data, restaurant tech coverage, sales prospecting, marketing to the foodservice market, guided search for kitchens & bakeries, and data enrichment. Each of these services is designed to give companies a better understanding of the foodservice industry and how to best make informed decisions and strategies.
How Does F and B Market Research Help My Business?
Data-driven insights and analytics are essential for businesses to get a better understanding of the foodservice market and to make the most out of sales and marketing opportunities.
F&B Market Research capabilities with Brizo provide businesses with the data they need to make proactive decisions. Sales prospecting can identify potential leads and customers, marketing to the foodservice market can generate more leads, attract, convert, and close more deals. Find Kitchens & Expand Operations streamlines production and innovation, while data enrichment enhances systems with comprehensive market insights to be more confident with decisions.
